Competitive intelligence and social media audit tools are one of the most crucial services that any business requires to keep tabs on their brand performance and reputation in a given market. It involves planning, understanding, analyzing and interpreting information collected from we traffic and online activity of a competitor so as to secure a competitive edge in a market.
NetbaseQuid also shares that information collected through competitive intelligence can be both published and non-published. However, global laws dictate that any information collected on any competing firm must be obtained and extracted in a legal, ethical and transparent manner. Competitive intelligence, as explained by NetbaseQuid, is also referred to as corporate intelligence in the global scene. One of the main objectives of incorporating competitive intelligence and social media audit as strategic game plans is to grow, protect and monitor the progress of a given brand in a market.
Steps to follow in incorporating Competitive Intelligence
Corporate intelligence, otherwise known as competitive intelligence, is a unique process that is comprised of three unique steps. These steps help a company receive real time information on any events, adjustments or any changes that may take place in a market. The following are the steps.
The first step is to carefully and strategically identify existing and potential competitors in the market through a social media audit. This helps a company focus and effectively plan on how to obtain competitive intelligence form selected competitors.
The second and most crucial step of the corporate intelligence process as explained by NetbaseQuid is to pin point some of the areas of interest that may be affecting the competitive performance of a business. This will help in focusing more on areas that need improvement. After specific firms and areas of potential interest have been identified, NetbaseQuid explains that a special team is hence required to conduct a competitive analysis and s social media audit that turns the information collected into findings. The executive department of a company hence takes these findings and converts them into results and strategies to withhold competition in a market.
Pathmatics is one of the many competitive intelligence tools that come a long way in ensuring that accountability and full transparency is achieved in digital marketing and influencing. This tool obtains data from world marketing platforms and uses the findings to achieve ideas and insights that will improve their competitive position in a market.
Consequently, Pathmatics as a tool gathers and collects information on digital ads from the internet. The tool executes this function by the user of data crawlers and panels. In simpler terms, the Pathmatics intelligence tool helps convert world marketing data into actionable revelations and business niches that could help secure a competitive advantage in a market.
One of the most important roles played by Pathmatics is to help big and leading brands and companies monitor and grow their brands digitally. Consequently, businesses can also get feedback from their ad questions through platforms such as Facebook and Instagram.
Semrush is a competitive intelligence tool that uniquely helps businesses increase and amplify their online visibility and presence. It also ventures into content marketing, competitor research and brand performance. Semrush is preferred by most companies, big and small because it helps in conducting fast and reliable technical audits on competitors by studying their web traffic. Consequently, Semrush has bagged a total of fourteen international awards for best performing SEO in the market.
Consequently, firms and business ventures can also adopt Semrush in running aily and regular SERP position checks. As a leading firm in the digital marketing and review sector, the competitive intelligence tool is used by 45% of fortune 500 companies.